Kitanotatsujin Corporation, The Current Fiscal Year Ordinary Profit Revised Upward by 9%, Dividend Revised Upward by 0.2 yen

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Tue Oct 15, 2024 3:30 pm JST Earnings

2930 Kitanotatsujin Corporation 【J-GAAP】

Earnings Report

Kitanotatsujin Corporation <2930> [TSE-P] announced its financial results after the market closed on October 15th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) surged by 2.0 times that of the same period last year, reaching 910 million yen.

In addition, the full-year consolidated ordinary profit has been revised upward by 8.8%, from the previous forecast of 1.55 billion yen to 1.69 billion yen (compared to 1.48 billion yen in the previous period), increasing the growth rate from 5.2% to 14.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to decrease by 23.6% from the same period last year to 784 million yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 2.3 yen to 2.5 yen (compared to 2.2 yen in the previous period).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit grew by 8.6% from the same period last year, reaching 516 million yen. The operating profit margin jumped from 12.0% in the same period last year to 16.0%.

Kabutan News

Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	4,308	522	540	355	2.6	99.8	Oct 14, 2022	J-GAAP
Mar - Aug, 2023	7,833	442	454	302	2.2	30.7	Oct 13, 2023	J-GAAP
Mar - Aug, 2024	6,482	902	910	608	4.4	53.7	Oct 15, 2024	J-GAAP
YoY	-17.2%	+104.1%	+100.4%	+101.3%	+100.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	6,797	852	859	578	4.2	1.20	Apr 12, 2024	J-GAAP
Mar - Aug, 2024 Results	6,482	902	910	608	4.4	1.30	Oct 15, 2024	J-GAAP
Revision Rate	-4.6%	+5.9%	+5.9%	+5.2%	+5.3%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	13,536	1,542	1,557	1,041	7.5	2.30	Apr 12, 2024	J-GAAP
Feb, 2025 New	11,555	1,672	1,694	1,143	8.2	2.50	Oct 15, 2024	J-GAAP
Revision Rate	-14.6%	+8.4%	+8.8%	+9.8%	+9.9%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	6,832	1,007	1,026	692	5.0	1.30	Apr 12, 2024	J-GAAP
Sep - Feb, 2024 Guidance	5,073	770	784	535	3.8	1.20	Oct 15, 2024	J-GAAP
YoY	-25.7%	-23.5%	-23.6%	-22.7%	-22.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	9,831	510	541	343	2.5	1.50	Apr 14, 2023	J-GAAP
Feb, 2024	14,665	1,449	1,480	994	7.2	2.20	Apr 12, 2024	J-GAAP
Feb, 2025 Guidance	11,555	1,672	1,694	1,143	8.2	2.50	Oct 15, 2024	J-GAAP
YoY	-21.2%	+15.4%	+14.5%	+15.0%	+14.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	3,902	468	475	326	2.4	12.0	Oct 13, 2023	J-GAAP
Sep - Nov, 2023	3,466	633	644	451	3.3	18.3	Jan 12, 2024	J-GAAP
Dec - Feb, 2023	3,366	374	382	241	1.7	11.1	Apr 12, 2024	J-GAAP
Mar - May, 2024	3,269	389	394	266	1.9	11.9	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	3,213	513	516	342	2.5	16.0	Oct 15, 2024	J-GAAP
YoY	-17.7%	+9.6%	+8.6%	+4.9%	+4.7%